From March 31 all Encore users will automatically become Mortgage Brain clients unless they opt out.
Stuart Glendinning, director of Mortgages, says: “Mortgage 2000 was the predecessor to moneysupermarket.com and holds a great deal of affection within the business as this is where we started from.
“However, in this market there is no room for nostalgia and there wasn’t anything in mortgage 2000 that wasn’t being supplied by many other businesses.”
He says growth at mortgage 2000 has been dwarfed by the growth within moneysupermarket.com and this is where its core focus is placed.
He adds: “We aim to make this transition as smooth as possible and have built a migration tool that enables brokers to transfer data from Encore to Mortgage Brain seamlessly.
“We are sure Mortgage Brain is the right partner for the future and has the best interest of our business and Encore customers in mind. We would like to thank all our customers for working with us, and supporting us throughout this transition and seek to reassure them that intermediaries will continue to be valued business partners with paaleads.com.”
Mark Lofthouse, CEO of Mortgage Brain says: “We’re delighted that, after looking at all available sourcing systems, mortgage 2000 has selected Mortgage Brain to supersede Encore.
“We’ve jointly developed a transfer programme to ensure the transition from mortgage 2000 to Mortgage Brain will be simple and easy. Mortgage Brain is focused on delivering the best products and services to brokers.
“This is demonstrated by our continuous product investment programme, and backed up by the most accurate mortgage product information and excellent customer service.
“It’s our track record that proves we are the best strategic partner for sourcing and electronic trading.”
Danny Lovey, proprietor of The Mortgage Practitioner, says: “I have used Mortgage2000/Encore since I have been in the mortgage market and compared it to Tigold and Mortgage Brain over the years and have stuck with Mortgage 2000, some times even running with two systems for a while whilst I tried the others.
“In my opinion Mortgage 2000 has led the way with the functional features of a sourcing system and it is only over the last couple of years the other two have caught up.”
Mortgage 2000’s mortgage club will continue to trade.